This piece is based on a painting called "The Mermaid" by John Waterhouse, who was part of the 'post' Pre-Raphelite movement in England in the late 18/early 1900's.
This is my favourite of his many paintings - the original, which I have seen, hangs in the Royal Academy in London.
The work was done by Matt from Absolute Tattoo in Kingscliff, NSW, Australia. Pictured slightly unfinished.